Viacom, Inc. (NASDAQ:VIAB) reports 4Q18 Profit Up 29%; Tops Estimate

Viacom

Viacom, Inc. (NASDAQ:VIAB) headquartered in New York, announced income from continuing operation for the fourth quarter of $ 386.00 million or $ 0.96 per share, compared to income $ 674.00 million or $ 1.67 per share for the year-ago quarter.

The company recorded fourth quarter adjusted income from continuing operation of $ 400.00 million or $ 0.99 per share, while analysts from Thomson Reuters expected income of $ 0.95 per share.

Top line figures for the fourth quarter rose 5% to $ 3.49 billion from $ 3.32 billion in the same quarter last year, where as analysts anticipated $ 3.37 billion.

Bob Bakish, President and CEO, commented, Our strong performance in the fourth quarter capped off a pivotal year for Viacom. We successfully turned around our core business, with dramatic improvements across our networks, at Paramount and in distribution. We also took important steps to evolve Viacom for the future investing in our portfolio of advanced marketing solutions, digital and experiential offerings and global studio production business. As we head into 2019, we are excited about the company’s evolution and expect to return to topline growth.